Electronic Money vs. Physical Money

[nomad1109]

I agree with the people saying digital currencies will co-exist with fiat. People always want their money back in the currency they use on a day to day basis, which is the currency of the government where they live. If you couldn't trade Bitcoin off into fiat then it would be worth a whole lot less, as it would require everyone to join a closed economy. There are examples of markets that have been closed off to the world, and then opened up. This created much growth in the market, as international investors were allowed in. Anyway, that might be a digression.

An upcoming ICO called Universa has a very clever way to handle this. They have managed to chain smart contracts together, and so they can make payments automatically go for the the digital currency equivalent of whatever fiat they want. For example a store wants to accept crypto as payment, but they don't want the exchange risk for it. Then these smart contracts can make it so every transaction equals their asking price at the time of payment.

[miltonpogi]

Well, according for my research when we say electronic money this are the cash that can transact and widely use for payments through the use of electronics materials, in short "online payment", while when we say physical money it pertains to the money that we are using today which  we called paper money. In this time I will probably say that physical money is the best thing to use than electronic money, because paper money is very common to all and anyone can have it ,while electronic money are place on our gadgets that many individual could not afford, but in the near future I will choose electronic money because in that time technology is very progressive.

[mostafijur]

It is known to all that electronic money gets very important now a days. But there is still using of physical money .I think that electronic money is the future when using of physical money will destroy . For that it is increasing using of electrical money day by day.

[trplzr]

Will physical money disappear? Yes.
Will we live to see this? That is the question 

[valisa]

I prefer to use electronic money from cash, because we have to follow the development of technology, because if not follow then we will be left behind from others

[ausbit]

Physical money refers to solely cold hard cash only, your balance in credit card is a form of electronic money too. These days electronic money is certainly more flexible in payments as they are faster and less hassle to maintain, cryptocurrency is electronic money too except its value is built on community perception, could be generated only though mining means, has limited supply while the rest are printed, issued and legalized by their respective government agencies. Both has up and down sides but in the end holding cash is better in real life and there is nothing you couldn't buy by exchanging it.

For me digital currency is better in all aspect than flat one because there is no room of profit acquiring in this and flat money is just confined to one region where it is belonging whereas crypto currency is globally accessed and used and a lot of people are using it on daily basis for fulfilling their needs and it can be used as money as well as investment and that’s one of the best thing of the electrical money.

[tweetbit]

Will physical money disappear? Yes.
Will we live to see this? That is the question 

That’s a good question and can be answer only at that time. Maybe I’m too old to even reply to this thread and answer your question. That’s funny and logical in a sense that it is a question we were looking forward to. And I do agree that physical/paper money will be available in due time only in museums for historical purposes.

[GoodLuck2]

Another differentiator between digital and virtual is that digital currencies are based on two digits 1’s and 0’s. However, virtual currencies are created through cryptographic algorithms, and that’s why they are also known as Cryptocurrencies.

Yes digital currency is made up of the digital logics and those who are still relaying on the physical money are wasting their time and skills over a piece of paper they must invest their money into the digital one this will multiply their money and return this in sort of profit whereas cash money can only be used for payment but this one is used for money making as well as the normal currency uses.

[pearlmen]

Will physical money disappear? Yes.
Will we live to see this? That is the question 

That’s a good question and can be answer only at that time. Maybe I’m too old to even reply to this thread and answer your question. That’s funny and logical in a sense that it is a question we were looking forward to. And I do agree that physical/paper money will be available in due time only in museums for historical purposes.

The only place I see physical money disappear are in Hollywood movies that talks abuht the future but the reality of that is something I don't see happening in either this lifetime or in the future because its not possible to just eradicate physical cash and no matter how you try. The highest you can see is to reduce the use of it to the barest minimum and nothing else.

[meliodas]

Hi guys, I just want to know your views and opinion about the difference in Electronic Money (Bitcoin and others) and the Physical Money. Many people now a days are still confuse about the existence of the Bitcoin and how it differ from our Physical Money that we are using to buy necessity. I hope we could share and learn from each other. 

The world adapted to many kinds of changes because of the evolution of technology. I believe that it is time to accept the change that electronic money should be implemented all over the world. I think it brings convenience.

[Opquar]

Bitcoin is a digital currency and its just a representation of money online. Wherein you cannot have a chance to see or touch in real life. But its powerful enough to use as a transaction online and can also be use to buy in a store just like our paper money

I would not consider bitcoin to be a representation of money online. It is its own entity wiyh a certain value, and it is actually completely independent of paper money.

[Prettyme]

Hi guys, I just want to know your views and opinion about the difference in Electronic Money (Bitcoin and others) and the Physical Money. Many people now a days are still confuse about the existence of the Bitcoin and how it differ from our Physical Money that we are using to buy necessity. I hope we could share and learn from each other. 

The big difference of these two is that they have there purpose on a specific place wherein a physical money can be used in this world and it is tangible. But the electronics money is a money where we can use in the online world. So to have a lot of information just research more about bitcoin so that you can really understand the purpose of bitcoin.

[cramcram21]

I like to use or hold my money in electronics or in bitcoin rather than in Fiat,
If I could just use my bitcoin in every transaction that I would , I would prefer it and never to convert it into Fiat,
But right now we couldn't use it in almost everything.

[bellamae]

The 2 have differences.
Electronic Money-It is monetary value that is stored electronically on receipt of funds, and which is used for making payment transactions.  E-Money can be held on cards, devices, or on a server.But the main problem is tracking. Electronic transactions have logs. Logs that can be directly attached to the card's owner.
Physical Money-Cash has also a good advantage. Money doesn't "disappear" from your bank account without you not knowing about it. In practical, day to day situations, the only reason cash is still around is because most people don't know how to exchange money with each other using phones, and because there are still occasional businesses that don't take credit. None of your big reasons factor into it, and the real reasons for cash are quickly going away.

[Dodoymabs]

Fiat money have different currency means that if your in the other country you have to convert it to there own currency to be accepted like for example if you are in the Philippines and your currency is dollar then you must exchange it to peso to be accepted in the store.Unlike electronic currency its universal and hassle free.

[adiksau0414]

Not all of the population in the world id familiar with e-currency,  it still starting.  Its about 5-10% all over the world is familiar with it.  In my views,  physical money is are basic for us to use in specific country. It is countrys symbol. The idea of having an e-currency is a very good start for a person to use it anywhere. As the founder of Alibaba visit our country,  he indicate about the use of e-commerce,  which will help is to fast transaction and to avoid corruption.  I hope that more people will be using both depending where and when to use it.

[LesterD]

Hi guys, I just want to know your views and opinion about the difference in Electronic Money (Bitcoin and others) and the Physical Money. Many people now a days are still confuse about the existence of the Bitcoin and how it differ from our Physical Money that we are using to buy necessity. I hope we could share and learn from each other. 

the difference between physical money and e-money is that, e-money can be use to purchase even if you are on the other part of the world. physical money can be use only in your country, because we have different fiat money so you have to convert first before using it to other currency.
bitcoin can be used in many aspects, same as physical money, but as i said, those two has limitations which fills the lacks of use of each other.

[hachiman13]

Too many upsides and downsides to those respective currencies. To name a few, physical money are readily liquidated while the other is not. It can handle instant and micro transactions. E-money's strength though is to long distance transactions and it has ledgers which record payments. Both complement each others weakness so they can co-exist rather than replacing one or the other.

[Faxmate]

Physical money will spend a lot of budget for its creation, eventually the world government will forget this and start switching to the e-money system, they will allocate the budget to the source of the currency-forming nature for other businesses. What the world needs now is efficiency so everyone will switch to consolidating e-fiat with cryptocurrency.

I think both of them are same because both of them are money but bitcoin is a digital currency and other currencies are paper currency and I must say bitcoin is little better than paper money because bitcoin price is high than any other currency and it’s also easy to carry with yourself bitcoin in now available almost everywhere and the users are going to support bitcoin.

[DrGuns4Hands]

it's has a lot of difference bitcoin is a decentralized currency which is not stable because its depending on the demand while physical money is a centralized because it came from the banks and the government can supplies how many money should be produce for the year. while btc the miners are the one who produced bitcoin for us.